309 Watson St Creedmoor, NC 27522

Listing details for 309 Watson St, Creedmoor, NC 27522 : ATTENTION INVESTORS! Rare Duplex (1of 5 being offered by this seller) in Creedmoor at an in place Cap Rate of 7.3% based on current rents and 2024 taxes and insurance numbers assuming a owner operated cash purchase. Creedmoor is a convenient small town to live in close to everything in downtown or a quick drive down HWY 50 to North Raleigh or out to HWY 85 and over to Durham or Chapel Hill. Being offered 100% occupied with substantially below market rents. New owners could do minor CAP X improvements like new paint and stainless appliances and push rents, or remodel the kitchen and bathrooms as well and push rents even higher and realize up to a 9.8% cap rate at the market rent of $1795 per side (estimate) fully upgraded. The current owners have made significant upgrades over the last 5 yeas with over $50K in renovations including refinished decks 2024, In both units all new LVP flooring downstairs and bathrooms and new carpet upstairs in 2023 as well as a few new appliances in last 5 years. New HVAC systems in both units in 2020. Off-street parking adds extra value, making it even more convenient for residents. Additionally, with no HOA, you save on monthly expenses and retain full control over the property. This property boasts a proven track record and excellent rental history, making it an ideal opportunity for savvy investors.